US Markets
Home›US Markets›M&A & Deals›TalkTalk nears deals to sell assets to avoid administr…
TalkTalk nears deals to sell assets to avoid administration
The UK telecom is aiming to sell its consumer business and wholesale unit PXC to help preserve customers and jobs, targeting a sale that would save 900 roles.
TalkTalk said it is in the final stages of sealing deals to sell its consumer business and wholesale operation, PXC, as it faces the threat of administration, with customers and jobs described as top priorities. The company is also seeking to save 900 jobs.
The telecoms provider, founded in 2003 by Charles Dunstone, has faced pressure in a competitive market, with its customer base shrinking from 4 million in 2019 to about 1.5 million. TalkTalk also said owners would have to write off about £1 billion if the asset sale deals go through.
TalkTalk’s talks include a close to sealing a £100 million deal to sell its consumer operation to O, according to the article. The report also references deals that involve Opus Broadband and investment group Octopus Business as updates continue.